Mobile operator Tele2 reached a turnover of EUR 136.669 million in 2019, up 4% compared to 2018, according to Firmas.lv information on May 22.
The company’s profit rose by 2% and was EUR 31.519 million. Tele2 revenue from communications services increased by 5.4% in 2019, while the company’s revenue from sales of goods and other services decreased by 0.6%.
In accordance with a decision made at a shareholder meeting, Tele2’s profits were left undistributed last year.
The company’s annual report showed that the increase in turnover in 2019 reflected a successful market strategy and high demand for mobile data services. By the end of last year, Tele2 had 954.000 customers.
The report notes that Tele2 invested in infrastructure development to improve coverage and capacity of the latest generation of 4G/LTE high-speed mobile data services, as well as to take the first steps in 5G evaluation. Overall, Tele2 invested 17.4 million in infrastructure, services and technology in 2019.
“We will continue to invest in technology and service development and efficiency in 2020,” the report says.